Business Can Only Recover for Actual Damage to Property; Must be Profitable in Order to Recoup Lost Profits

In JF Warran, LLC, dba Newport Inn, and Jimmie A. LLC v Mainstay Motors, Inc., dba Red’s Towing Service, and Eric Thomas Ferguson and Consolidated Insurance Company, the appellate court affirmed the trial court’s decision that Defendant CIC was entitled to summary disposition in Plaintiffs’ no-fault claim. The Court determined that a business is not entitled to actual cash value for an entire building, when only a portion of it was damaged by a motor vehicle. Further, a business must actually show it was profitable in order to recoup lost profits.

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